Adapting to a digital-first world

IN Partnership with

Amar Ahluwalia on OneVest’s approach to wealth management in the age of instant access and digital innovation

WHEN FINANCIAL advisors seem to understand their clients’ needs even before the clients do, software likely plays a key role in this foresight. Founded on the premise of addressing critical inefficiencies within the wealth management sector, OneVest is the brainchild of a visionary team led by individuals with a rich history in financial services and a shared ambition to empower wealth management professionals and enterprises with modern, efficient solutions. During periods of uncertainty, investors understandably become anxious. Daily headlines bombard them with news of foreign conflicts, environmental crises, deepening political divides, cryptocurrency scams, and layoffs in the tech industry.

OneVest is a financial technology company on a mission to power the world’s wealth. It offers an end-to-end wealth management platform, from client onboarding, to portfolio management, to analytics and beyond. OneVest’s software was built to be modular, allowing financial institutions to fill gaps in their process depending on their needs. For more information, please visit onevest.com.

The OneVest Difference

OneVest was built to be modular, so it can fill gaps in your current processes. Whether you need a full-suite solution or a specific element, OneVest can provide it.

“Our technology stack is modular in nature, which means we can work with existing technology vendors and fit seamlessly into an architecture. Enterprises can use OneVest as an end-to-end solution, or can use a module to fill a gap for high-priority needs”

Amar Ahluwalia, OneVest

In response to these challenges, financial advisors across the globe are revising their service models, communication strategies, and methods for engaging and retaining clients to ensure the long-term viability of their practices. With client anxiety levels peaking, advisors are tasked with providing reassurance and confidence in the premium advice they offer. This situation highlights the importance of advanced digital technologies, modern infrastructure, and tools that allow clients to access their financial information in real time and receive prompt updates from their trusted advisors. Nextflix, Spotify, Amazon, and Google have changed the expectations that consumers have from their digital technologies. This shift, coupled with intense competition from online platforms and discount brokers offering substantial value at minimal cost, signals a new paradigm for advisors. In this environment, client-facing digital technology has evolved from a nice-to-have feature to a fundamental necessity.

Founded in 2021, OneVest is growing at an astonishing pace, having successfully secured $24 million in funding from investors over the years, with significant contributions from OMERS Ventures, Deloitte, National Bank’s NAventures, Fin Capital, and many more leading global investors. With a foundation in economics, co-founder and CEO Amar Ahluwalia’s early career was characterized by significant roles that spanned from investment banking to global strategy consulting, leading to a position at IHS Markit, which later became part of S&P Global in a landmark $40 billion acquisition. Ahluwalia’s trajectory took a pivotal turn in his role at OnDeck leading several business segments, taking the business to a position of prominence in the online lending space, followed by a strategic role at Coast Capital where he spearheaded corporate development. His leadership roles at IHS Markit and OnDeck, and his position at Coast Capital not only showcased his knack for driving growth through mergers, acquisitions, and strategic partnerships but also sowed the seeds for his entrepreneurial aspirations.

It was Ahluwalia’s acute observation of the inefficiencies plaguing wealth management that led to the birth of OneVest. Recognizing the need for operational efficiency and a more personalized client experience, he envisioned a platform that could seamlessly merge various facets of wealth management software into a cohesive, user-friendly solution. “We knew there was a better way,” Ahluwalia remarks, reflecting on the initial motivation behind OneVest. Along with his co-founders, he sought to address the fragmented nature of wealth management technology solutions and aimed to introduce a platform that would not only modernize client and advisor experiences but also enhance the

operational efficiency of wealth management enterprises and professionals. “Our technology stack is modular in nature, which means we can work with existing technology vendors and fit seamlessly into an architecture. Enterprises can use OneVest as an end-to-end solution, or can use a module to fill a gap for high-priority needs, such as onboarding or a modern client or advisor portal,” says Ahluwalia. Onboarding dozens of companies, OneVest counts Peoples Trust and Neo Financial, among others, as customers. Making it simple for wealth management firms to use the technology, Ahluwalia says, “We are lucky to have relationships with many enterprises, and we’ve had many reach out to us looking for a more modern platform solution.” OneVest’s modular design ensures that financial institutions can seamlessly integrate its services with existing systems, enhancing their operational efficiency without the need for extensive overhauls. This adaptability is crucial in an industry where the needs and expectations of clients are constantly evolving, demanding solutions that are not only comprehensive but also highly customizable. As Ahluwalia highlights, “We know not every user will be tech-savvy. That’s why OneVest has no-code functionality, with modern simple-to-use interfaces, allowing enterprises to easily make changes.” This allows personalization across channels/segments, without a lengthy process or the need for tech support. Firms can also set permissions to determine who at the organization can make those changes, down to the advisor level.

OneVest has developed a proprietary core wealth management technology from the ground up that can either serve as an end-to-end platform or be integrated into a company’s existing solutions. The platform was built to be modular, meaning firms can choose which solution they need, and implement it quickly and easily. It’s also configurable, allowing for changes to workflows without the need for code. The range of services includes onboarding, account opening, personalized client and advisor portals, mobile applications, portfolio management, fee management, analytics and reporting, and more. These services provide a full suite of tools that can be chosen based on the specific needs of a business.

“At OneVest, innovation is engraved into our DNA. We always want to be leading the charge, rather than trying to catch up. For instance, we’re looking ahead by focusing on no-code configurability and AI-driven automation,” Ahluwalia says. This philosophy enables financial institutions to customize the investment experience for their clients with ease, from the moment of onboarding through to the client app interface. As we witness the $90 trillion intergenerational wealth transfer in North America, it’s clear that financial institutions must arm themselves with the latest digital tools, including optimized UI/UX designs and advanced technology for large-scale automation. “Companies that offer modern, flexible experiences will win in this rapidly shifting landscape.”

Innovations and new technology digital invention

Getting to OneVest

Staying ahead of the curve

Published April 22, 2024

Amar Ahluwalia, OneVest

Modular platform

OneVest’s white-label client and advisor portals are completely configurable, so you can tailor it to exactly what you need, from functionality to branding.

White-labelled

OneVest’s open architecture, microservices delivery means that modules easily integrate with your existing systems, and can be implemented quickly.

Easily integrates

“I always wanted to branch out and become an entrepreneur,” he says. “In 2021, my co-founders, Jakob Pizzera and Nathan Di Lucca, and I identified issues in the wealth management space that needed to be solved.”

Identifying the gap: The inception of OneVest

Additionally, the platform supports third-party integrations, including pre-integrated options like Salesforce, Flinks, Persona, market data providers, etc., and can also be connected to other third-party providers as required by the enterprise. This approach ensures that OneVest’s platform can serve as a versatile and inclusive solution for wealth management needs.

The technology within

Companies

About us

Privacy

RSS

People

Newsletter

Authors

External contributors

News

Your Practice

iNVESTMENTS

bEST IN WEALTH

Resources

Companies

About us

RSS

People

Newsletter

Authors

External contributors

News

Your Practice

Investments

Resources

Best in Wealth

News

Your Practice

Investments

Resources

Best in Wealth

Companies

About us

Privacy

RSS

People

Newsletter

Authors

External contributors